Please keep in mind that the US dollar could very well be in the process of printing a Half Cycle Low and could potentially break through trendline resistance as well as deliver a higher high before correcting down into a much anticipated Daily Cycle Low.
A higher high would also produce bearish divergence with our Stochastics, RSI, TSI indicators -- a reliable indication that a top is in place. Also, keep an eye on price action in the EUR/USD
A higher high would also produce bearish divergence with our Stochastics, RSI, TSI indicators -- a reliable indication that a top is in place. Also, keep an eye on price action in the EUR/USD
Note
So far so good.. The Dollar has confirmed a swing low and is now on its way up to 96. For those of you trying to trade the 'bounce up' in Gold, I would recommend a little patience before placing your bets.. And I would also keep an eye on the EUR/USDNote
The 2 hour chart below is currently showing some really nice 'Divergence', which means the dollar could be dropping into a DCL.. If that is the case, then we could see a nice bounce in Gold over the next few days.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.